Great Britain’s vote to leave the European Union, also known as Brexit, shook financial markets to the core leaving investors scrambling.  There was a definite flight to quality into US Treasuries as the 10 Yr note yield fell instantly as the vote was announced.  We answer the question, “Could Brexit benefit Southwest Florida home buyers?”

Brexit Benefit Southwest Florida Home Buyers

Could Brexit Benefit Southwest Florida Home Buyers?

The answer is yes, it is already benefiting many borrowers.  Since Brexit rates are down about 1/4% to ½%. This works out to about 6% more purchasing power for the same payment in one week’s time.  In other words, a buyer has two choices.  They can either step up about 6% in purchase price and not have the payment cost them any more, or they can purchase the same amount and spend less per month doing it.

This helps more buyers qualify, so it can help sellers too.  We have a listing in Bella Casa that has Open House Friday 5:30-7:30 and Saturday 5:30-7:30 July 8th and 9th.  It is 3 bedrooms and 2 baths and is listed at $185,000.  Before Brexit we needed a buyer that qualified for the full $185,000.  Today we could find a buyer that qualified for a maximum $174,000 just last week and make that deal happen and it wouldn’t cost the buyer any more.

In the higher price ranges it’s even more dramatic.  Essentially borrowers just got either a financing discount or a purchasing boost for the same money.  The buyer definitely wins, and one could argue sellers do too because now there are more available buyers for their home.

When times are uncertain investors flock to tangible assets or quality.  Good examples of tangible assets are gold and real estate.  Both can fluctuate in value but real estate can be rented out.  It’s hard to do that with gold.  The EU may not be done losing participants either, and if anyone else bows out like Great Britain did it could spell more uncertainty for the markets.

Gold rose and oil fell after Brexit.  Gold was considered a flight to quality while oil fell because people feared a business slowdown.  Sometimes the markets are fueled by consumer confidence while other times they’re fueled by opportunities.

We could have fewer British and European buyers in the US market which could hurt some local markets while at the same time helping many buyers.  Many times there are competing forces at work and so it is difficult for anyone to accurately predict which force wins out and who the winners and losers will actually be.  Just keep in mind there are opportunities in situations like these and the news isn’t always grim.

If you’re thinking about buying in this very low interest rate market we’ve got the website for you.  www.LeeCountyOnline.com  We think you’ll like it because it is updated with all the listings every 5 minutes.  Most of the other sites take days and still don’t always get it right.

Sometimes days is too long.  The best properties go fast.  Timing is critical.  If you’d like to take advantage of this financial situation, give us a call at 239-489-4042 or register on our site.  We can get you in touch with a lender who has rates below 3% as of the time we’re writing this article.

If you’re a seller, we have lots of buyers and may have a buyer that’s looking for a home like yours.  You can call us too.  If we don’t currently have a buyer, we have marketing that attracts buyers.  Give us a call and let’s see if we can get you to your next goal.

Good luck and Happy House Hunting!

Next weekend we’ll feature an Open House Extravaganza, so stay tuned.

 

Welcome to the Ellis Team Seller’s Club.  Each month we inform sellers in Southwest Florida trends and data to make the best decisions.  E-Mail us if you’d like to be included in our Seller’s Club.

Back in April we reported sales seemed to be picking up just a bit after a lackluster season. We’re happy to report some encouraging news with SW Florida real estate sales picking up slightly.

SW Florida Real Estate Sales Picking Up Months supply inventory
Months Supply of Inventory June 2016

The trend we saw in April bears out in the statistics. Month’s supply of inventory in all but one price range declined which means there are more sales relative to the amount of inventory on the market. We’ve supplied a chart comparing month’s supply of inventory for single family homes in Lee County Florida in June compared to April 2016. While there is still a large amount of inventory priced $400,000 and up, numbers are looking better.

SW Florida Real Estate Sales Picking Up

Closed sales May 2016 SW Florida Real Estate Sales Picking Up
Closed Sales May 2016

We reported that sales were down about 20% earlier this year; however closed sales in May were just about even with last year’s numbers. While February and March sales were down from last year, May is showing some progress this year.

Brexit is in the news and the jury is still out on its effects on our national and local markets. One boon could be lower rates as we see a global flight to quality to US treasuries. When this happens it drives down mortgage rates which are largely based off the 10 yr note. Lower rates would add buying power to local buyers and create newly qualified buyers into the market. The downside could be a lack of consumer confidence and exports which could cost jobs, so we’ll have to wait and see how this all plays out.

Every circumstance presents a new opportunity, so we’ll be looking for creative ways to market to the opportunities as they present.

New listings are up 10.6% in May, so hopefully the pending sales keep coming and keep that supply of inventory down. Pending inventory fell 12% in May over last year while inventory increased 14.1% in May over last year, so we’ll have to keep our eye on that.

There are so many statistics we research each month that give us a guide to where the market may be headed. It’s worked well in the past and sellers appreciate reviewing all the data when they’re making selling decisions on their home.

This is one of the reasons we’ve decided to start up a Seller’s Club. The Ellis Team Seller’s Club is a group of people who have their home on the market or are considering selling their property and are thirsty for market data. We produce a video going over many charts and analyzing the data. We only have so much room in each of these articles so with the videos we’re able to present much more. All of the data is geared to sellers and what they need to know. If you’re listed with another broker this is not a solicitation to obtain your listing.

If you’re considering putting your home on the market then you definitely want to tune in. Just email me at Brett@topagent.com and ask to be placed in our Seller’s Club and we’ll add you. It’s that simple, and you’ll look at the same data we look at and receive expert analysis of what it all means and how it affects you.

If you’d like to search the MLS like a pro, head on over to www.LeeCountyOnline.com Our database is updated every 5 minutes, so you’ll find hot new properties before other buyers do. If you’d like to list your home now, give us a call. 239-489-4042 We’re easy to talk to and we’re here to help.

Good luck and Happy House Hunting!

July 4th Independence Day Specials

 

SW Florida Real Estate Featured Properties
Olde Hickory Golf Course Home

14381 Hickory Fairway Ct

4 Bedrooms, 3 Baths

 

 

 

 

SW Florida Real Estate Reflection Lakes
Reflection Lakes Pool Home on Lake

13925 Bald Cypress Cir

4 Bedroom, 3 Bath Pool Home on Lake

 

 

 

 

 

 

Whiskey Creek pool home SW Florida Real Estate Fort Myers
Whiskey Creek Pool Home

5668 Jerez Ct

3 Bedrooms, 3 Baths, Oversized Lot

 

 

 

SW Florida Real Estate Viridian Fort Myers
Viridian Pool Home on Lake

12407 Arbor View Dr

4 Bedrooms, 4 Baths, Pool Home Lakefront

 

 

 

SW Florida Real Estate Cape Coral Pool Home
Cape Coral Pool Home

2110 SW 13th St

3 Bedrooms, 3 Baths, 4 lot site

 

 

 

SW Florida Real Estate Bella Casa
Bella Casa Home With Garage

Bella Casa Home Fort Myers

3 Bedrooms, 3 Baths with Garage

 

 

 

SW Florida Real Estate Bella Casa Riviera
Bella Casa Riviera Floor Plan

Bella Casa Riviera Floor Plan

3 Bedrooms, 2 Baths, Community Pool

 

 

 

The Ellis Team Seller’s Club is brought to you by the Ellis Team – Keller Williams Fort Myers & The Islands

Now it really gets fun. We’ve been doing a series of articles on what you can buy at various price points, and today we answer the question, what does $ 1 Million buy in SW Florida real estate market?

We concentrated our search on single family homes but there are some nice condos available in SW Florida in all these prices ranges.  None of the listings presented here today are our listings.  In fact, in all four articles so far, none have been.  We’ve been trying to educate readers on what you can buy, so we’ve hand selected some interesting properties.

What Does $ 1 Million Buy in SW Florida Real Estate Market?

1 Million Buy in SW Florida Real Estate Market
Fort Myers Million Dollar Home

In Fort Myers we found a home listed for just under $1 Million.  It is a large 2 story home with over 4,400 square feet of living area.  It is located between McGregor and the River and this pool just really caught our eye.  There are so many great homes located in this area it was hard to choose.  This is a fairly newer home built in 2007 so it was unique.

1 Million Buy in SW Florida Real Estate Market St James City
St James City Million Dollar Home

We found a home in St James City listed for just under $1 Million as well.  It has 3 bedrooms, 2 ½ baths and has gulf access with a boat dock right out your back door.  You can be fishing some of the world’s best fishing spots in minutes.  This home is bay front and has 2 boat lifts.

1 Million Buy in SW Florida Real Estate Market Sanibel Island
Sanibel Island Million Dollar Home

Next we head over to Sanibel Island, home to some of the world’s best shelling.  This home is a 4 bedroom, 2 bath home and has excellent rental income.  You can enjoy this home for yourself on gorgeous Sanibel Island or you can rent it out and receive close to $70,000 income until you’re ready to call it home.  Or you could do both, renting it out and vacationing here.  It is nicely decorated and is furnished.

1 Million Buy in SW Florida Real Estate Market Cape Coral
Cape Coral Million Dollar View

Lastly we found a home in Cape Coral priced just over $1 Million by a few thousand dollars.  Imagine heading out on your boat in this gulf access waterfront home and when you come back after a great day of fishing or boating you can jump right into your gorgeous pool.  That’s living the good life and what SW Florida is all about.  This home features 4 bedrooms plus a den and 3 full baths.  It is over 3,000 square feet of living area.  If you’d like to rent this home you can for $8,000- $10,000 per month.

They say SW Florida sells itself, and it does.  Once people vacation or visit SW Florida they’re hooked, but where do you go to find more information and snoop around all the homes for sale?

Simply go to www.LeeCountyOnline.com and you can search like a Realtor.  The database includes all homes for sale in the MLS and is updated every 5 minutes, so you’ll know about price changes or new listings hitting the market before other buyers.  The key to scoring a great deal is to work with an agent who is knowledgeable about the market and having access to the data.

We provide both for you.  If you have a property to sell, we can help with that too.  Many buyers must sell a property before they can purchase another.  If your property is located in another city, we can find you the best agent in that city.

You can always call us at 239-489-4042 if you’d like to speak with an experienced agent, or search away on our website until you find something that interests you.  Our team is here to help you wherever you are in the process, and on your terms.  Give us a call, you’ll be glad you did.

 

The Ellis Team at Keller Williams Fort Myers & The Islands is hiring agents– Read more and see if you have what it takes.

If you’ve been reading our articles lately you’ll notice we’re doing a series on what you can buy in the SW Florida real estate market at various price points.  In recent weeks we’ve done the $250,000 and $500,000 range and showed you some excellent choices in those ranges.  Today we answer the question, what does $ 750,000 buy in Lee County real estate market?

If money is no object, it gets a lot more fun to shop as we go higher in price.  These are by no means the entirety of the market, but rather a sampling of a few things you could buy around town in this price range.

What Does $ 750,000 Buy in Lee County Real Estate Market?

750,000 Buy in the Lee County Real Estate Market
Fort Myers Beach Waterfront Pool Home

At Fort Myers Beach we found a nice waterfront home on a wide canal built in 1981. It is 3 bedrooms, 2 baths.  It has a gorgeous pavered pool area and boat lift for your boat at the canal.  It’s located mid island at Fort Myers Beach and is listed for $725,000.

http://blog.topagent.com/2016/05/20/250000-buy-lee-county-real-estate-market/ Fort Myers
Fort Myers Gulf Access Waterfront Home

In Fort Myers we found another gulf access waterfront home.  This home has 4 bedrooms, 3 1/2 baths with 2,549 sq ft living area.  I like the stainless steel appliances, granite counter tops, wood like floors, and of course its location.  Keep in mind, none of these listings are ours and we’re reporting based upon pictures in the MLS.

http://blog.topagent.com/2016/05/20/250000-buy-lee-county-real-estate-market/ Cape Coral
Cape Coral Waterfront Pool Home

In Cape Coral we found a home just under $750,000 with almost 2,600 sq ft of living area.  This too is a gulf access waterfront pool home with no bridges.  It’s a 2 minute boat ride to the river.  It has 4 bedrooms, 3 baths, high tray ceilings and stainless steel appliances with granite counter tops in the kitchen. It has a boat lift and a wet bar with refrigerator area off the pool for entertaining when you get off the boat.

If money is no object, it gets a lot more fun to shop as we go higher in price. These are by no means the entirety of the market, but rather a sampling of a few things you could buy around town in this price range. Palmira Golf & Country Club
Palmira Golf & Country Club Bonita Springs

Lastly, we have a gorgeous home on the golf course for you in Bonita Springs priced below $750,000.  It is located in Palmira Golf and Country Club and features 3 bedrooms, 3 ½  baths with granite counter tops and custom cabinets on a quiet cul-de-sac street.  The community offers a resort style pool and a community center, fitness center and bar and grill.

The bottom line is SW Florida has so much to offer for all kinds of different lifestyles.  Whether you’re a casual boater, avid fisherman, tennis player, golfer, workout buff, or just like to chill out on your lanai and watch nature, SW Florida has it all.

We have single family homes, condos, villas, town homes, and coach homes for easy living.  This is one reason our agents spend time asking buyers questions.  We don’t really sell anything, because SW Florida sells itself.  Rather, we listen to what buyers like to do, what makes them happy, and how they will use their home.  Once we determine that, we can identify suitable properties and make some recommendations based upon the buyer’s lifestyle.  Each home and each community offers something different.

It can be a daunting task when you’re not from here.  Buyers don’t want to make a mistake.  This is why hiring a seasoned agent accustomed to working with buyers can make all the difference.  I can’t tell you how many times buyers have thanked us for listening to them and suggesting certain properties based upon their needs.

We help with new construction as well.  It doesn’t cost any more to use a Realtor, and many times it will save you money because we know the incentives being offered.  Builders also like Realtors because we can be a source for repeat business.  A good Realtor can point out the pros and cons based upon your needs, not the seller’s or the builder’s.

We have new construction available on our website at TopAgent.com and of course we have the entire MLS available at www.LeeCountyOnline.com  Of course, there’s no substitute for talking with experienced agents who know the area.  If our team can help, please call us at 239-489-4042

Good luck and Happy House Hunting!

Ellis Team is hiring

The Ellis Team is looking for talent.  If you’re a licensed agent in Florida and willing to learn and work, we may have the opportunity for you.  Please contact us.  Our team is growing and we need good people to help our clients.

A few weeks ago we wrote an article about what $250,000 buys in the SW Florida real estate market. Today we answer the question,

What does $500,000 Buy in Lee County Real Estate Market?

What Does 500,000 Buy in Lee County Real Estate Market
Inventory Active Listings

We use the MLS to do our search but you can do the same and search like a Realtor at www.LeeCountyOnline.com and find the same homes.

What does 500,000 buy in Lee County real estate market Carillon Woods
Carillon Woods Pool Home

In Fort Myers we found a home in Carillon Woods listed for $498,000 that is 3 bedrooms, 3 1/2 baths and has a nice pool. The home is nearly 3,200 sq ft of living area and is in a gated community with sidewalks, street lights, tennis courts and playground. Carillon Woods is a very popular neighborhood in this price range.

What Does 500,000 Buy in Lee County Real Estate Market Cape Coral waterfront home
Cape Coral Waterfront Pool Home

In SW Cape Coral we found a gulf access waterfront pool home with 3 bedrooms, 2 ½ baths and almost 2,500 sq ft living area on a 120 ft canal for $500,000. It has a 3 car garage and is only a few years old. We especially like the infinity pool on this home.

what does 500,000 buy in lee county real estate Fort Myers Beach
Fort Myers Beach waterfront home

At Fort Myers Beach we found a home that is waterfront, completely furnished, and located on a large lot at just under $500,000. It is 3 bedrooms, 2 baths and is located mid-island close to shopping, supermarkets, entertainment, and marina.

Grandezza pool home Estero Florida
Grandezza Pool Home Estero

In Estero we located a 3 bedroom 2 bath home in Grandezza with 2,190 sq ft living area and is a former model for just under $500,000. It has a gorgeous solar heated pool and heated spa and overlooks a preserve.

Again, none of the listings I this article are ours. We just wanted to give you an overview of some of the kinds of things you can find in this price range. Of course, you can find waterfront condos, homes on golf courses, and so much more. Lee County is fairly large and has lots to offer with varying neighborhoods, locations, and amenities.

Because our area offers so many different types of boating, golf communities, and neighborhoods with lakes, preserves, and varying lifestyles it pays to sit down with an agent that’s familiar with the entire county and can listen to your wants and desires.

At the Ellis Team we feel like we don’t have to sell anything. Rather, we listen to your needs and match you with properties that meet what you’re looking for. Some agents specialize in one neighborhood or one amenity and they struggle when people ask about other areas. Many times that buyer will come back to the original community they called on, but they want an agent who can explain the differences first so they can see if that’s really what they’re looking for. If you can’t be flexible and in curiosity when working with a buyer, chances are you’ll just lose them to another agent who can.

That’s one reason why we provide all the listings on our website along with so much community data and market reports. We want buyers to feel comfortable with their purchase. It’s a big decision and some buyers are paralyzed because there is so much data and they’re afraid to make a mistake. This is where a good team can assist you. We marry the data with personal, professional advice to help you attain your dreams, and that’s all a buyer is trying to do.

We take the hassle out of the buying process. If you’re a seller, you should talk to us too as we work with a lot of buyers, and chances are we may have a buyer looking for a property just like yours. If not, our marketing will surely attract attention for your home.

You can always call us at 239-489-4042 or search away at www.LeeCountyOnline.com

Good luck and Happy House Hunting!

Viridian pool home South Fort Myers

Pool home in Viridian in South Fort Myers- 4 Bedrooms 4 Baths

The Ellis Team has several new listings coming to the market.  We have a 4 bedroom lakefront home coming for $450,000 in Reflection Lakes.  We have a gorgeous home in San Carlos Park on a 3 lot site coming this upcoming week for $215,000.  We also have 2 units at Bella Casa coming this week as well, and don’t forget the 2 new listings we just listed at River Hall for $275,000 and $215,000

We’ll have a few more listings coming as well as soon as we can get them ready.  If you’re a buyer, call us as we may be listing exactly what you’re looking for.

Google Street View of Ellis Team – Keller Williams Fort Myers & The Islands office

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If you ask many real estate agents in SW Florida most would tell you the 2016 wasn’t a good one this year and the numbers would bear that out.  We’ve been reporting since January that sales just haven’t come in like they have in previous years as inventory grew.  April housing shows some signs of improvement though as sales improved.

The numbers may look a little better simply because last years numbers have been revised down.  For the past several months year over year prices have been positive because of those changes.  Had it not been for those changes we could have seen some negative prices.

April Housing Shows Some Signs of Improvement

April Housing Shows Some Signs of Improvement Closed sales by sales price
Closed Sales by Sales Price

So let’s take a deeper dive into what we know.  Closed sales by sale price dropped at the lower end simply because there is no inventory at the low end, so don’t read anything into that.  $150-$300k is strong. Once we get over $300,000, that’s where we start to see weakening in the market.  It’s been this way all year.

April Housing Shows Some Signs of Improvement
Inventory by Current List Price

Let’s look at inventory by current list price.  Here we start to see inventory rising at anything over $150,000.  We’ll keep our eyes on those numbers.  $200k especially jumped out at us, although as agents we’re glad because it’s been hard to find any inventory in that range to show buyers.

April Housing Shows Some Signs of Improvement Inventory Active Listings
Active Listings Inventory Lee County

When we look at overall listing inventory we see it’s risen year over year every month since January. New pending sales dropped 7.3% in April, so overall listing inventory could continue to rise in coming months.  We’ll continue to track those numbers as well.

New listings were up 2.9% in April.  When we see listings rising and pending sales falling, we can reasonably assume inventory may rise a bit in coming months.

As bad as all this sounds, April was an improvement in some areas over what we were seeing in February and March.  We predicted a market shift months ago and I think the numbers show that.  We’re not rocket scientists.  We just study the numbers.  Many times the future isn’t hard to predict if you study where the tracks are headed.

If you’re a seller or need to sell in the next few months, you need to know these numbers.  In fact, I’m going to be starting up a Seller’s Club whereby we’ll produce a monthly video each month going over the numbers in detail.  We don’t have room to show all the graphs here so we spread them out over the month, but in that video we could show them all as they are hot off the press.

E-Mail us at Brett@topagent.com if you’re considering selling and would like to be included in the seller’s club monthly video update.

Lastly, we haven’t covered the distressed market in awhile.  That’s because there isn’t much of a distressed market anymore.  We continue to get calls from buyers looking for foreclosures and short sales.  This past week we received two calls in about 30 minutes, and when we tell them there aren’t many, they are bewildered.

April Housing Shows Some Signs of Improvement Distressed Market
Lee County Distressed Market

As you can see, there were only 9 single family short sales in the county, and only 55 foreclosures. That’s indicative of a fairly healthy market.  Oh the market has shifted from a seller’s market, but that doesn’t mean it’s not a healthy market.

The market rarely stands still.  It can shift like sand at the sea and it can be balanced and healthy or sick.  Right now we have a pretty healthy market.  If you’re a buyer or seller, it pays to know the hot spots and weaker spots.

You can search the MLS and do market research for Free at www.LeeCountyOnline.com or call us at 239-489-4042

Good luck and Happy Selling!

A lot of people ask what they can buy at certain price ranges in the SW Florida real estate market, so today we thought we’d pick a price range and report on that.  We answer the question, “What does $250,000 buy in Lee County real estate market?”

We logged into MLS but you can do the same at www.LeeCountyOnline.com and search like Realtors do and find the same information.

What Does $250,000 Buy in Lee County Real Estate Market MLS Search
Search Results on LeeCountyOnline.com

What Does $250,000 Buy in Lee County Real Estate Market?

In Cape Coral we spotted a brand new home in SW Cape Coral.  It is listed for $245,900 and has 2,180 sq ft. It has 5 bedrooms 3 baths and is on an oversized lot.

What Does $250,000 Buy in Lee County Real Estate Market Cape Coral
Cape Coral Home Under $250,000

We then decided to see if we could find any waterfront homes with gulf access in this price range.  We found 6. We found a home with 1,588 sq ft and a 10,000 lb boat lift with a spa in SW Cape Coral with gulf access. We found another gulf access home with boat lift and a pool. It has 1,436 sq ft and a single car garage.  It is 10 minutes to the river by boat.

Lee County Real Estate Market Gulf Access Waterfront Home Cape Coral
Cape Coral Gulf Access Waterfront Home

Next we decided to look at Fort Myers Beach and see what’s available for $250k.  We did find a small single family home for $219,000. It’s a 1 bedroom, 1 bath home with 630 sq ft.  but hey, it’s at the beach.  When we searched for condos we found 15 in that price range.  Some ranged from small 1 bedroom condos at Pink Shell with great investment potential to larger 1 bedroom units along the beach with greater size.  Manufactured housing opened up 7 more homes at Fort Myers Beach and many were waterfront.

In Fort Myers we found 69 single family homes listed up to $250,000. For instance, we found a 3 bedroom, 2 bath lakefront home in Botanica Lakes with 1,782 sq ft for $240,500.  It was built in 2012

What Does $250,000 Buy in Lee County Real Estate Market? Fort Myers Home Botanica Lakes Under $250,000
Fort Myers Home Botanica Lakes

As you go further south into Estero and Bonita the pickings get a little slimmer.  We found 33 single family homes available.  We found a cute 2 bedroom + den in the Villages at Country Creek for $249,900.  It has 1,382 sq ft, a 2 car garage, and has been completely updated with stainless steel appliances.

250000 Buy Lee County Real Estate Market Estero Home
Estero Home Villages at Country Creek

None of the listings shown today are our listings.  We just wanted to show you what your money will buy at this price range and show you how you can search and find these kinds of properties.

Our website allows you to see the home on the map so you can see exactly where it is and what it is close to, like shopping or water.  You can view all the photos of each home in the photo gallery. You can setup a showing request when you see something you like, or find out how much it will cost with the mortgage calculator.

You can also add homes to your favorites to easily find them again or check on their status, or save your search and have the system email you when new homes enter the market or when an owner changes their price.

You can search all price ranges and all areas, not just the $250k example we did today.  As Realtors we get to see a lot of homes each week.  If you’ve been searching awhile and having a hard time making sense of it all, you’re not alone.

Sometimes it pays just to sit down with a good agent who listens to what you’re looking for and they can point you in the right direction for you.  Ellis Team agents listen and are experts at finding what you want.  Give us a call at 239-489-4042 and we’ll be happy to sit down and discuss the market and homes that may interest you.

If you’re not ready to meet just yet, that’s fine too.  Simply search away at www.LeeCountyOnline.com and let us know when something catches your eye.  You might not be ready today, but someday you will be, and this site is perfect for those who want to see what’s out there and what is possible.

Good luck and Happy House Hunting!

Open House This Saturday 1-4 PM

2110 SW 13th St, Cape Coral FL

Recent Articles

Ellis Team Moves to Keller Wiilams Fort Myers & The Islands

Official numbers were released for March single family home sales and it’s no surprise that March SW Florida closed sales fall as prices rise slightly.

March SW Florida Closed Sales Fall as Prices Rise Slightly Home Prices

Home sales were down 13.2% in March while median home prices were up 4.2%.  This could have been worse except for the fact that numbers last year were revised down.  As you can see from the attached sales prices chart we’ve been bouncing around close to a recent high which was set in January.  Each year median prices tend to top out in April so we’ll be watching next month’s numbers to see what the trend is for the balance of 2016.

March SW Florida Closed Sales Fall as Prices Rise Slightly

Closed home sales tend to top out in March/April or May so we’ll be watching closed sales over the next few months to see how that trend scores as well.

Active inventory has risen 8.4% over last year at a time when closed sales are falling which has led to an increase in months supply of inventory, which is up to 5.4 months, up from 5.1 months last year.

All in all we have a fairly stable market.  Sellers have gotten used to the new normal for the most part.  It’s been the hardest on sellers who listed last Fall as they were expecting prices to continue rising.  Sellers listing today look at the facts and realize prices aren’t rising like they were.

Buyers are under tremendous pressure and it’s going to get much worse.  Prices have risen, but so have rents.  In fact, you could argue rents have risen at a faster rate than prices have.  What have saved home buyers are ridiculously low interest rates.  Low rates have contributed to affordability.  Rising prices lowers affordability as does rising rates.  If you have both, you’ve got real problems for buyers.  Rising home affordability only pushes rents higher too as landlords know buyers can’t afford homes.

Really, now is the time to make the move.  Whether you’re considering replacing your current home or buying your 1st home, now is the time as rates are low.  You’ve still got affordability on your side, but not for long.

Ellis Team Moves to Keller Williams

Speaking of moving, in case you haven’t heard, the Ellis Team has moved to Keller Williams after nearly 30 years with RE/MAX.  Our team, phone numbers, and websites all stay the same.  Simply go to www.LeeCountyOnline.com to search the MLS, view market reports, or find out what your home is worth.  You can always call us at 239-489-4042.

Our team is growing.  We now have new opportunities to grow with our team we didn’t have before.  The future has never been brighter.  If you’ve got a property to sell, you should definitely give us a call.  We’re experts at selling homes in any kind of market, and we’ve got a good market right now.  Just because it isn’t appreciating at double digits doesn’t mean it’s not good.  That kind of market is unsustainable and invariably runs out of gas.

I’ll take a steady slow growth kind of market any day.  It’s what we used to have back in the 80’s and 90’s.

Always Call the Ellis Team 239-489-4042, we’ll handle you with care.

 

Good luck and Happy House Hunting!

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It is with great excitement and great sadness that the Ellis Team announces it is leaving RE/MAX Realty Group after nearly 30 years. The Ellis Team moves to Keller Williams Fort Myers & The Islands.

Sande joined RE/MAX in 1987 and Brett joined in 1988.  Sande was named the Broker Manager of the year and quickly recruited agents to make RE/MAX the #1 company in SW Florida.  This was back when people asked, “What’s a RE/MAX”?

Shortly thereafter Sande gave up managing so the team could devote all its energy into selling real estate.  The Ellis Team became the 1st real estate team in SW Florida and the #1 team in sales.  Sande and Brett earned the prestigious RE/MAX Hall of Fame Award, the Lifetime Achievement Award and Sande the Circle of Legends Award.

At the time, RE/MAX was a pioneer and gave a 100% commission concept to top producing agents.  RE/MAX became the #1 company in the world.

Ellis Team Moves to Keller Williams

We were approached to join KW in its infancy.  Keller Williams was that up and coming pioneer like RE/MAX was, we just refused to see it out of loyalty to RE/MAX.

We became Stars with Star Power, a group of top agents throughout the country who trained agents nationwide.  Star Power offered the best training in the world.   Many Stars left their companies and became pillars of Keller Williams because Keller Williams offers training and coaching. So much of what we taught at Star Power is being taught today at Keller Williams.

Today Keller Williams is the #1 training organization across all industries in the world and provides the perfect team environment with coaching, training, technology and profit sharing. Gary Keller is a visionary much like Dave Liniger at RE/MAX.

We love to hang around with visionaries.  Keller Williams also shares profits back to the agents.  KW has some technology that helps us market properties for our sellers that nobody else has as well. The is just another reason why the Ellis team moves to Keller Williams.

As my grandmother would say “Some Realtors change offices as often as they change underwear.”  We receive offers from other companies weekly.  We never took the offers seriously.

Ellis Team Moves to Keller Williams


All the stars lined up to finally make us consider the move.

It was a tough decision because we love RE/MAX.  We love Michael Frye the owner, and Frank Szelest the manager.  They are lifelong friends along with all the agents at RE/MAX.  It’s a bittersweet day.  And yet we’ve met so many wonderful people at KW who are so nice, it’s made the decision tolerable.  They make you feel like family, and that’s important to us.

This isn’t farewell as we’ll still be here doing deals with both companies.  We have nothing but good things to say about both companies.  If I were an agent in this marketplace considering a move, I would definitely say put both companies on your interview list.  Every agent needs something different and it pays to interview and learn, much like a seller interviewing agents.

If I were a buyer looking for an agent to work with, I’d look for one that has lots of transactions under their belt.  Experience helps an agent understand pitfalls before they happen, and know what to look out for.

I’d want an expert negotiator, and an agent that knows which financing sources are the best to go to and get the job done.  I’d want an agent that allows me to search the MLS on my own so I can see hot deals as they enter market too.  Our SW Florida MLS Search Website  allows you to do that.

And most of all, I’d want an agent that is full-time and available, and one that will listen to my needs and find me what I want.  If you’re looking for all that, you should talk to one of the Ellis Team’s expert agents  239-489-4042  We’re easy to talk to and we love to help people.

Our team is growing.  We look forward to giving you the same great service as ever, with a few new tools to serve you.

Good luck and Happy House Hunting!!!

We also have a Keller Williams Fort Myers Live MLS Search Site

Keller Williams Sitemap

Back in February we posted real estate inventory levels for SW Florida and reported a fairly stable inventory market.  Back in January the market was strong, but since then agents have complained about a shift in the market.  Properties are selling.  We’ve got a great market, however there have been some changes the last few months so we’ll bring you up to speed.

SW Florida Post Season Real Estate Inventory Levels April 2016

SW Florida Post Season Real Estate Inventory Levels April 2016

Almost all categories have increased in the past few months with 2 exceptions.  The below $50,000 range and the $400,000-$600,000 range.  The change below $50,000 is so small and there are so few properties involved it’s not worth talking about.  The $400-600k range is a bright spot.  Active listings went down in this range and closed sales have increased.

SW Florida Post Season Real Estate Inventory Levels April 2016 February

In the past year we’ve had 1,254 sales in the $400-600k range.  Back in February we only had 1,093, so that’s helped lead to a decrease in supply of inventory. There were 1,271 on the market back in February and 1,206 now, so most of the change has to do with increased sales.

Overall the market has increased to a 5.84 months supply, up from 5.03.  The change in sales won’t look as dramatic as month over month sales data from last year because it’s average over the last 365 days, but this is a fairly significant swing given the 2 month window.

At close to 6 month supply I’d say we have a pretty balanced market.  If your home is on the market over $400,000 you’re looking at a year plus to sell your home on average, unless you take steps to win the selling game.

Remember, your home is in competition with all the other homes for sale.  You’re not really in competition with the buyer.  The buyers will look at all options and decide on what is best for them.  The goal is to make your home valuable in the marketplace.  Obviously your home has value.  The question is, does it have as much value to the buyer as it does to you?

When the sellers set the price equal to its value, it will sell.  If a home has a value to the seller at $1 Million dollars but has value to buyers at $500,000, it will not sell.  This is one reason you see so many professional athletes retire.  Perhaps they see their value at $5/million/yr.  Ball teams see value in them too, but the athlete is getting older, susceptible to injury, and not the team’s future.  They may be willing to pay $1.8 million for one year and the athlete is holding to $10 million over 2 years.  When the value is not equal to the price, there is no market for the athlete and they retire.

Some star athletes are trouble makers and have issues.  Perhaps they’re a $10 million/yr player, but because they have baggage and potential to affect other players, teams won’t take a chance on them.  At a lower price, somebody will take a chance no matter how many issues you have.

Right now there isn’t a high market for Johnny Football.  Even his agents have dropped him.  He has baggage and needs to deal with his issues.  If he had no issues he’d be worth a lot more.

The same is true in real estate.  The market changes monthly, and just because you feel your home is worth X doesn’t mean the buyers will.  I can assure you though, when your price equals the value in the market, it will sell, even if your home has issues.  The more you deal with the issues upfront the more value your home will have.

If you’d like to search the market, or your home’s value, feel free at www.LeeCountyOnline.com If you’d like to talk to a professional agent about how to maximize your value, call the super agents on the Ellis Team 239-489-4042.  If you’re a Star athlete, we can’t represent you with ball teams, but we can help you find the perfect home.

Good luck and Happy House Hunting!

Ellis Team Featured Property of the Week

2110 SW 13th St Cape Coral FL– 2,256 Sq Ft pool home built on 4 lots with stainless steel appliances, engineered wood floors throughout the home, and wood cabinets.  Also view virtual tour.